Answer to Question #295687 in Finance for One

Question

A piece of earth-moving machine equipment was purchased at a cash

price of P25,0000. The life of this equipment was estimated at 6 years with

no salvage value. However, at the end of 4 years, the machine had become

so inefficient, because of waring of parts, this was replaced. Depreciation

was allowed on the company books by the sinking fund method with a 4%

interest. Determine the annual depreciation.

Answer 1

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